Traders Purchase High Volume of Call Options on Joby Aviation (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the recipient of unusually large options trading on Monday. Traders acquired 49,401 call options on the stock. This represents an increase of approximately 344% compared to the average volume of 11,136 call options.

Joby Aviation Stock Up 20.3 %

JOBY traded up $1.06 during midday trading on Monday, hitting $6.27. 40,733,316 shares of the company were exchanged, compared to its average volume of 7,243,868. The firm's 50 day moving average price is $5.31 and its 200-day moving average price is $5.31. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69. The firm has a market capitalization of $4.49 billion, a P/E ratio of -8.27 and a beta of 1.97.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the company posted ($0.13) EPS. On average, sell-side analysts predict that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

JOBY has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, October 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright restated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a report on Tuesday, October 29th.

Insiders Place Their Bets

In other news, insider Gregory Bowles sold 26,775 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares of the company's stock, valued at approximately $92,699.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Gregory Bowles sold 26,775 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the sale, the insider now directly owns 18,035 shares of the company's stock, valued at $92,699.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares of the company's stock, valued at approximately $158,470,228.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 525,499 shares of company stock worth $2,667,151 in the last 90 days. Company insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently bought and sold shares of JOBY. Flaharty Asset Management LLC increased its stake in Joby Aviation by 25.0% in the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company's stock valued at $76,000 after purchasing an additional 3,000 shares in the last quarter. ProShare Advisors LLC raised its stake in Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company's stock worth $269,000 after buying an additional 3,942 shares during the period. Amalgamated Bank boosted its holdings in Joby Aviation by 46.2% in the second quarter. Amalgamated Bank now owns 13,905 shares of the company's stock worth $71,000 after acquiring an additional 4,391 shares in the last quarter. Cetera Advisors LLC grew its stake in Joby Aviation by 32.9% in the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company's stock valued at $109,000 after acquiring an additional 5,025 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after acquiring an additional 5,840 shares in the last quarter. Institutional investors own 45.54% of the company's stock.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.